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CORE recently performed a cost segregation study on a $40 Million retail mall in Seattle, WA and the tax savings were in the millions of dollars .
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Newsroom
'Green' building requirements passed in California
Increased awareness around buildings' impact on climate change is leading states and cities around the country to consider market-wide green building codes. In July, California's Building Standards Commission became the first jurisdiction in the nation to do so when it adopted the California Green Building Standards Code.
The code requires green building techniques, such as energy efficiency measures, low- or no- volatile organic compound adhesives, paints and coatings, and high-efficiency air conditioning filters, for all new construction. The new standards take effect July 1, 2009, as guidelines and become code requirements incrementally over the next three years. They will apply to all new construction in the state, including single-family homes.
In July 2009, building standards for energy efficiency take effect, which would make new homes in the state 50 percent more energy efficient than homes built to existing national energy standards, according to the California Building Industry Association (CBIA). In January 2011, air quality, moisture control and resource conservation standards will take effect. These include requirements for low- or no- volatile organic compound adhesives, paints and coatings; high-efficiency air conditioning filters; and always-on exhaust fans to ensure better fresh air circulation in the home. Six months later, new water-use standards will require a 20-percent reduction in overall water use.
The new California code requires a detailed building operation and maintenance manual be made available at the time of occupancy to address occupants' behavior.
"Our members are willing and eager to take green building to the next step, but we need consistent, understandable and cost-effective standards that will ensure we don't add to the state's already critical housing affordability problems," said Robert Rivinius, CBIA's President and CEO in a statement. The new 'green' standards are, he continued, "a very good and solid basis from which to work from in the years to come."
The new standards could help a flagging real estate market: According to the preliminary results released in late July of a survey released by the United States Green Building Council and McGraw-Hill Construction, 70 percent of homebuyers are either more or much more inclined to purchase a "green" home in a slumping market.
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